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repentance (OP)
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May 03, 2013, 12:44:18 AM |
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It didn't work out that way, according to a lawsuit filed today by Coinlab's attorneys in Washington State. Coinlab alleges that Mt. Gox has breached a contract clause which was supposed to give Coinlab exclusive access to the North American market. "Defendants have breached the exclusivity provisions of the Agreement by directly servicing customers in the United States and Canada since the Agreement took effect," the lawsuit states.
Coinlab also says Mt. Gox hasn't allowed them to transition existing U.S. and Canadian customers from Mt. Gox to Coinlab, as agreed in the contract. "Despite repeated requests to do so, Mt. Gox has failed to deliver all passwords, Yubikeys, administrative logins and any other security information required so that CoinLab may assume operation of the Bitcoin exchange services for customers in the United States and Canada."
Coinlab is demanding $75 million in damages, and even that, it says, "likely underestimates the actual damages." http://gawker.com/massive-bitcoin-business-partnership-devolves-into-75-487857656?rev=1367540238This is gonna be interesting given that there are very high profile Bitcoin people on both sides of this lawsuit (Roger Ver is a CoinLab investor). |
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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Inedible
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May 03, 2013, 12:47:29 AM |
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I predict a 25% loss in value by this time tomorrow evening.
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If this post was useful, interesting or entertaining, then you've misunderstood.
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empoweoqwj
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May 03, 2013, 12:48:56 AM |
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Just make sure this is a true story before spreading it everywhere.
Yesterday we had false story of MtGox being raided by police. Today MtGox being sued for $75m.
It might well be true, but please someone contact CoinLab first to verify.
"Coinlab is demanding $75 million in damages, and even that, it says, "likely underestimates the actual damages.""
Lawyers normally demand far more damages than "actual damages" - is this really real?
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Inedible
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May 03, 2013, 12:49:35 AM |
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Just make sure this is a true story before spreading it everywhere.
Yesterday we had false story of MtGox being raided by police. Today MtGox being sued for $75m.
It might well be true, but please someone contact CoinLab first to verify.
CoinLab have already said they haven't been served yet. |
If this post was useful, interesting or entertaining, then you've misunderstood.
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empoweoqwj
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May 03, 2013, 12:51:06 AM |
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Just make sure this is a true story before spreading it everywhere.
Yesterday we had false story of MtGox being raided by police. Today MtGox being sued for $75m.
It might well be true, but please someone contact CoinLab first to verify.
CoinLab have already said they haven't been served yet. CoinLab are the people serving the writ. Its MtGox that said they haven't been served yet. |
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thebaron
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May 03, 2013, 12:52:06 AM |
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I predict a 25% loss in value by this time tomorrow evening.
Wonder what would happen if they disable those customer accounts right now... |
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Inedible
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May 03, 2013, 12:53:08 AM |
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Just make sure this is a true story before spreading it everywhere.
Yesterday we had false story of MtGox being raided by police. Today MtGox being sued for $75m.
It might well be true, but please someone contact CoinLab first to verify.
CoinLab have already said they haven't been served yet. CoinLab are the people serving the writ. Its MtGox that said they haven't been served yet. That's what I said  |
If this post was useful, interesting or entertaining, then you've misunderstood.
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Inedible
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May 03, 2013, 12:55:46 AM |
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I predict a 25% loss in value by this time tomorrow evening.
Wonder what would happen if they disable those customer accounts right now... Are you looking to buy cheap Bitcoins? |
If this post was useful, interesting or entertaining, then you've misunderstood.
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repentance (OP)
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May 03, 2013, 12:57:26 AM |
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Just make sure this is a true story before spreading it everywhere.
Yesterday we had false story of MtGox being raided by police. Today MtGox being sued for $75m.
It might well be true, but please someone contact CoinLab first to verify.
"Coinlab is demanding $75 million in damages, and even that, it says, "likely underestimates the actual damages.""
Lawyers normally demand far more damages than "actual damages" - is this really real?
There's a link to the court documents in the Gawker article. http://www.scribd.com/doc/139160091/Coinlab-v-Mt-Gox |
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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Ultraviolet
Member
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Activity: 84
Merit: 10
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May 03, 2013, 12:59:14 AM |
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If this is legit and Gox hasn't yet been served then it would be because Coinlab's attorneys have already filed the suit, but have yet to serve. A court house search in that jurisdiction would confirm or debunk this, but that won't be possible until tomorrow anyway. |
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Inedible
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May 03, 2013, 12:59:49 AM |
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Trouble with that document is it's hard to verify it's authenticity. |
If this post was useful, interesting or entertaining, then you've misunderstood.
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Inedible
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May 03, 2013, 01:00:27 AM |
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If this is legit and Gox hasn't yet been served then it would be because Coinlab's attorneys have already filed the suit, but have yet to serve. A court house search in that jurisdiction would confirm or debunk this, but that won't be possible until tomorrow anyway. In the meantime, maybe someone's trying to pick up some cheap Bitcoins. |
If this post was useful, interesting or entertaining, then you've misunderstood.
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Ultraviolet
Member
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Activity: 84
Merit: 10
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May 03, 2013, 01:03:29 AM |
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In the meantime, maybe someone's trying to pick up some cheap Bitcoins.
Possible. However, in the document it says it was filed May 2 (today), so it's very reasonable that it hasn't been served yet. |
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Quantum_Negatum
Member
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Activity: 84
Merit: 10
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May 03, 2013, 01:04:55 AM |
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If real, the complaint should be available at http://www.pacer.gov/*edit* I couldn't locate the case on PACER. I'll check again tomorrow. |
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jubalix
Legendary
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Activity: 2618
Merit: 1022
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May 03, 2013, 01:08:18 AM |
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no court stamp on the Doc that I can see
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tvbcof
Legendary
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Activity: 4592
Merit: 1276
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May 03, 2013, 01:08:29 AM |
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...
This is gonna be interesting given that there are very high profile Bitcoin people on both sides of this lawsuit (Roger Ver is a CoinLab investor).
Yet another lawsuit involving Mr. Ver. There go some more of my tax dollars to support Bitcoin participants. I'm not complaining per-se...but sheesh. Can't these guys just shoot eachother or something? |
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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Kluge
Donator
Legendary
Offline
Activity: 1218
Merit: 1015
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May 03, 2013, 01:09:36 AM |
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...
This is gonna be interesting given that there are very high profile Bitcoin people on both sides of this lawsuit (Roger Ver is a CoinLab investor).
Yet another lawsuit involving Mr. Ver. There go some more of my tax dollars to support Bitcoin participants. I'm not complaining per-se...but sheesh. Can't these guys just shoot eachother or something? Doesn't the losing party in civil court generally pay court costs? |
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tvbcof
Legendary
Offline
Activity: 4592
Merit: 1276
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May 03, 2013, 01:12:58 AM |
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...
This is gonna be interesting given that there are very high profile Bitcoin people on both sides of this lawsuit (Roger Ver is a CoinLab investor).
Yet another lawsuit involving Mr. Ver. There go some more of my tax dollars to support Bitcoin participants. I'm not complaining per-se...but sheesh. Can't these guys just shoot eachother or something? Doesn't the losing party in civil court generally pay court costs? Certainly not if they are indigent. "Can't get blood from a turnip" so they say. |
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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